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Market Trends

Hoonanea at Lahaina | Sale Prices Increase Amid Slowing Indicators

As part of my commitment to keeping the community informed about West Maui’s micro-market real estate environment, I’m bringing you an up-to-date, comprehensive property market summary of Hoonanea at Lahaina, West Maui’s premier local townhome community.

What You’ll Find  

  • Actual Sales Prices: learn exactly how much specific properties sold for
  • Sales Volume: see the strength of the market in terms of how many properties sold
  • Days on Market: understand how long it takes the average property to sell
  • List Price vs. Sold Price: see how the final sales price compares to the listing price
  • Price Per Square Foot: which is critical in calculating real estate values
  • Asset % Growth: what is the year over year appreciation of my property
  • Current Inventory: what is actively for sale and currently under contract

Before we dig into the numbers, make sure you subscribe to my blog if you want to be notified of future market reports as they come available.

Hoonanea at Lahaina Current Market Snapshot (What You Need to Know)

  • From a 5 year standpoint, what a run it’s been for Hoonanea. Since 2014, sale prices have increased 40% with relatively equal gains in both 2-bedroom and 3-bedroom units. It has arguably been one of the most in-demand local residential condo/townhome communities in all of West Maui.
  • However, with significantly increased prices has come a bit of Buyer’s resistance in 2019 as indicated by the increased days on market to sell. From a 2015 – 2017 average of only 86 days per sale, to 118 days in 2018 and this year’s 152 days. Another key indicator to pay attention to is sales volume — in a neighborhood that has averaged 11 transactions per year since 2017, there have been only 4 sales thus far in 2019 (1 currently under contract). For comparative sake, Hoonanea’s sister complex Opukaea has had 8 properties trade this year with 4 currently under contract. It should also be noted that 4 Hoonanea units have already canceled or expired so far this year without re-listing.
  • Currently there are 2 actively listed units for sale

Hoonanea at Lahaina Historical Sales Summary

Year Avg List Price Avg Sold Price % to List Yr Gr Price/sq ft DOM # Sold
2019 $581,500 $561,500 97% 3% $434 152 4
2018 $559,246 $545,583 98% 0% $475 118 12
2017 $563,389 $544,556 97% 10% $459 86 9
2016 $513,004 $497,083 97% 8% $365 89 12
2015 $479,167 $461,000 96% 3% $381 86 6
2014 $456,778 $449,111 98% 16% $359 69 9

 

Hoonanea 2 Bedroom Sales

2 BEDROOM
Year Avg List Price Avg Sold Price % to List Yr Gr Price/sq ft DOM # Sold
2019 $569,000 $552,000 -12% 3% $437 116 3
2018 $547,992 $533,667 97% 6% $496 172 6
2017 $519,500 $503,750 97% 6% $457 85 4
2016 $487,131 $473,750 97% 11% $459 80 8
2015 $438,333 $426,333 97% 0% $370 71 3
2014 $433,167 $425,000 98% 11% $337 78 3

Hoonanea 3 Bedroom Sales

3 BEDROOM
Year Avg List Price Avg Sold Price % to List Yr Gr Price/sq ft DOM # Sold
2019 $ 619,000 $ 590,000 95% 6% $423 257 1
2018 $ 570,500 $ 557,500 98% -3% $454 76 6
2017 $ 598,500 $ 577,200 96% 6% $461 86 5
2016 $ 564,750 $ 543,750 96% 10% $421 148 4
2015 $ 520,000 $ 495,667 95% 7% $392 101 3
2014 $ 468,583 $ 461,167 98% 20% $370 55 6

 

Hoonanea at Lahaina Active Market

Want to Know More?

If you are in the market for buying or selling Lahaina real estate or have any questions about the area or the market in general, please feel free to contact me. I welcome the opportunity to give you information on my previous sales performance and marketing strategies. Or if you’re curious about what your property is worth in today’s market, it would be my pleasure to provide you with property information and a value assessment free of any sales pitch.

Related Articles:

Hoonanea at Lahaina Condos: Modern Convenience & Value

Another Hoonanea T0wnhome Listed & Sold By Jeff Onderko and Hawaii Life

About the Author

Jeff Onderko

Jeff Onderko is a REALTOR Broker with Hawai'i Life. West Maui Real Estate Broker, and ultra enthusiastic advocate of Maui's Lahaina, Kaanapali and Kapalua areas. I truly believe it's an honor & privilege to call Hawaii home. For 15 years now, West Maui is where I live, work and play. My team and I specialize in resort market home and condominium sales striving to deliver the highest level of professional service possible. With over 25 transactions in the past 24 months, a panache for extensive statistical research and 35+ West Maui real estate articles published since 2015, I'm relevant, information driven and responsive. I bring a passionate energy, an entrepreneurial understanding and a client-first approach to my real estate business. Prior to becoming a Realtor, I was an independent publisher, starting and operating Maui, Kauai and Hawaii Real Estate Weeklies, Maui Time Weekly (partner), and in 2005, I was a Mayors Small Business Award finalist. In 2009, after seeing the demand and living in an under serviced pet market, alongside my Mom, Susan we opened West Maui Pet Supply. I started my career after college as an account executive with Orlando Weekly ultimately becoming their Advertising Director. Then I moved on to Advertising Sales Manager at Orange County Weekly, in Southern California. I am native of Detroit, Michigan, but grew up in Florida splitting time between Miami, Orlando and Cocoa Beach, Fl. I was a scholarship soccer player at the University of Central Florida and graduated with a BA from their School of Communication. Always attracted to healthy lifestyle, adventure, great weather, water sports and the outdoors, I moved to Maui in the summer of 2002. When the Realtor hat comes off, I'm active in the community coaching U-14 Boys Soccer (AYSO - West Side Pride) and I still play in the West Maui open division. I'm involved along with other fellow Hawaii Life comrades volunteering regularly at the Ka Hale A Ke Ola Shelter in West Maui and I'm on the Board of the Hawaii Life Charitable Fund. Through the outlet of the WM Pet Supply, I was heavily involved with the Maui Humane Society & ASCPA getting animals adopted & spayed/neutered. When I have free time you'll find me surfing, golfing, at the gym, a regular at yoga class, hanging at home with my animals or working in the backyard on my organic micro-farm (aka: food garden). You can email me at JeffOnderko@HawaiiLife.com or via phone at (808) 280-4881.

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